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DAX sets record daily close

As covered here at the time, the DAX rose to a new all time record high yesterday, when it reached 16,551. The index later posted a new all time record daily close too, when it ended the session at 16,533, with a gain of 128 points on the day. Earlier today that record close helped to lift the DAX futures to indicate an opening this morning above 16,600, but those futures prices have just backed off ahead of some German data due in a couple of minutes, at 7am GMT. That data is the latest (October) factory orders and it might have an impact on the outlook for the opening this morning, but perhaps only if there is a real surprise in terms of the data. The markets expect a slight rise of 0.2%. The DAX futures are currently pricing the opening at around 16,565

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